Oracle laid off 30,000 people at 6 a.m. and made them sign severance agreements via DocuSign. The stock rose 5%. Unlike Microsoft, Apple, Meta, and Google, Oracle doesn't have the cash reserves to fund data-center expansion and debt service without cutting headcount.
Oracle cut 30,000 people this morning at 6 a.m. Please sign a severance agreement in your DocuSign. We'll proceed from there. So 30,000 people cut this morning. Stock jumps 5%. We talked about this around a month ago. Do you know why Oracle made the cuts? Data center funding. Yes. Bingo. I know Oracle is a big company, but unlike Microsoft, Apple, Meta, Google, they don't have the same stock cash pile as some of these other big mega tech, you know, multi-trillion dollar companies. So they have no choice but to cut to pay all their debt loans.
